time frame, currency & chart duration

Which is the best time frame for a day trader and which curriencies should be traded at that time frame.

And which is the best chart frame for a day trader.(1,5,15 min)

Thank you

dharmendar,

Welcome to FF.
I'm afraid you're question doesn't really have an exact answer.

Many here are going to suggest that you start with much higher timeframes. Many will suggest that you read the entire James16 thread.

All will say that there is no simple answer.
It takes a lot of effort on your part. Read as much as you can, ask some questions as they come up.

Most here would me happy to help, especially if you have specific questions about the homework that you are working very hard on.

Take Care.
We all wish you the best in your journey.

How long are you going to hold your trades?

all those time frames show the exact same info, just in different groupings. you could use any time frame for day trading, as long as it's less than the period your trading in. so for day trading, 1M all the way to 4H would work because it shows the same data. it all depends on how you utilize the data.

You will find what's best for you during those couple of years of learning.

Seriously: be aware of what's going on - Daily, H4 charts
Then see the immediate trend - H4, H1, M15
And pick your entries H1, M15 and below.

just my 2 cents...

go to the james16 thread and jump on in. you have to acknowledge that if you are just now starting out that it is wisest to hold off on live trading until you fully get it. that could take anywhere from 6 months (if you spend every waking moment from now until then fully immersed in charts) or 1-2 years. but seriously, do yourself a favor & save your capital until you get it. if you start daytrading now youre just going to piss it away. & also, the first half of the london session is the best time to trade.

Dharmendar,

The posts on top-down trading on this thread are good. Just a word of caution, you will be paying more on spreads in absolute dollar terms for lower time frames due to higher leverage required to make a profit and more frequent trades. I hope you factor that into your considerations, as it plays a role in determining the size of your edge.

Kind regards,

Kris Matthews

I'm currious, does anyone has actual knoweledge, what time frame institutional traders using?
Or whether they all different, just as retail ones?